China to take 40 percent stake in Rosneft’s petrochemical project

Russia's biggest oil producer Rosneft said on Saturday that China National Chemical Corporation (ChemChina) would take a 40 percent stake in its planned petrochemical complex VNHK in Russia's Far East.

The participation of ChemChina will allow Rosneft to optimise the project financing and jointly organise sales of the high-margin products of the future complex on the premium markets of the Asia-Pacific region. (Reuters)

Russia’s biggest oil producer Rosneft said on Saturday that China National Chemical Corporation (ChemChina) would take a 40 percent stake in its planned petrochemical complex VNHK in Russia’s Far East.

“The participation of ChemChina will allow Rosneft to optimise the project financing and jointly organise sales of the high-margin products of the future complex on the premium markets of the Asia-Pacific region,” Rosneft said in a statement.